$10,000 Closing Credit*
$949,900
4 Beds
•2 Full Baths, 1 Partial
Listing Office: WEICHERT REALTORS
Is Morris Township, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since September 2023
At the same time last year, Morris Township was a Seller's Market.
Key Takeaway
Morris Township is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Morris Township, NJ
How much do homes in Morris Township, NJ cost?
Median Sold Price
$825,000
$409/sqft
Based on all homes sold in the last 12 months.
Difference Since September 2023
+$61,875(+8.1%)
Key Takeaway
Homes in Morris Township have sold for 8.1% more than they did a year ago.
Summary: The median home sold price in Morris Township was $825,000 in September 2024, up 8.1% from last year, and the median price per square foot was $409.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $297.5K | $336.5K | +13.1% |
| 2 Bedrooms | $550K | $585K | +6.4% |
| 3 Bedrooms | $735K | $765K | +4.1% |
| 4 Bedrooms | $801K | $918K | +14.6% |
| 5+ Bedrooms | $1.1M | $1.1M | -3.5% |
Summary: Morris Township housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes increased by 13.1%, 2 bedroom homes increased by 6.4%, 3 bedroom homes increased by 4.1%, 4 bedroom homes increased by 14.6%, and 5+ bedroom homes decreased by 3.5%.
Median Sold Price Compared To Nearby Cities
| Morris Plains | $625K | $710K | +13.6% |
| Whippany | $580K | $650.9K | +12.2% |
| Morris Township | $763.1K | $825K | +8.1% |
| Morristown | $748.3K | $797.5K | +6.6% |
Housing Supply in Morris Township, NJ
How many homes are available in Morris Township, NJ?
Number of Homes For Sale
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 81 | 84 | +3.7% |
Summary: The Morris Township real estate market had 84 homes for sale in September 2024, a 3.7% increase compared to August 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 7 | 11 | +57.1% |
| 3 Bedrooms | 29 | 31 | +6.9% |
| 4 Bedrooms | 24 | 20 | -16.7% |
| 5+ Bedrooms | 19 | 20 | +5.3% |
Summary: The Morris Township housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 57.1%, 3 bedroom homes increased by 6.9%, 4 bedroom homes decreased by 16.7%, and 5+ bedroom homes increased by 5.3%.
Number of Homes Sold
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 27 | 14 | -48.1% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Morris Township, you could pay more than the asking price. 78.6% of homes here sold above asking price last month.
Summary: A total of 14 homes were sold or pending in Morris Township in September 2024, down by 48.1% month-over-month. Of the 14 sold homes, 21% were sold under asking, 0% were sold at asking, and 79% were sold over asking.
Days on Market for Morris Township, NJ
We’re sorry, we don't have information for this market at the moment
Disclaimer: The data relating to the real estate for sale on this web site comes in part from the Internet Data Exchange Program of the NJMLS. Real estate listings held by brokerage firms other than Rocket Homes Real Estate, LLC are marked with the Internet Data Exchange logo and information about them includes the name of the listing brokers. Some properties listed with the participating brokers do not appear on this website at the request of the seller. Listings of brokers that do not participate in Internet Data Exchange do not appear on this website.